Every year, the IRS sends out more than 8 billion pages in instructions and tax forms. Their complex nature means that many individuals find themselves owing back taxes. Every government in the U.S. provides exemptions for certain incomes, property, or persons. However, some might fail to fully understand how they work and end up owing back taxes. If someone happens to owe IRS back taxes, they might want to find some professional help to figure out how to clear debts. If someone is in a situation where they owe back taxes to IRS agencies, they should hire a tax attorney or professional. Doing so can be a good first step for anyone who finds themselves owing back taxes.
For anyone who might be owing back taxes, the most feared IRS weapon is the levy. The IRS has the ability to either levy upon assets that the taxpayer has in their possession, or those that a third party like a bank or brokerage house has. Either way, the levy can be quite stressful for anyone owing back taxes. Some individuals who owe irs money could, however, face other penalties, like garnishments. The IRS has the ability to demand that an employer send a portion of the wages of a debtor right to them. That could cause a lot of stress for an individual owing back taxes, so finding some help to get debts cleared could prove to be a worthwhile process.